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Turkmenistan to expand co-o with Italian company for purchase of equipment

Business Materials 24 October 2020 10:24 (UTC +04:00)
Turkmenistan to expand co-o with Italian company for purchase of equipment

BAKU, Azerbaijan, October 24

By Jeila Aliyeva - Trend:

The Ministry of Textile Industry of Turkmenistan will sign a contract with the Italian Cormatex SRL company for the purchase of equipment for the wool spinning line, Trend reports with reference to Turkmenistan’s State News Agency.

The relevant decree authorizing the conclusion of the above-mentioned contract was signed by President of Turkmenistan Gurbanguly Berdimuhamedov.

Meanwhile, one of the terms of the contract is for the company to carry out all work on delivery to Turkmenistan, installation and commissioning of the necessary equipment on site.

The equipment is being purchased for a wool spinning line that will be created in Turkmenistan’s Bayramali Textile Complex, for the production of 130 tons of camel and goat wool yarn per year, as well as for a workshop that will be opened at Turkmenistan’s Dashoguz Cotton Spinning Factory, for the processing of cotton and wool waste and the production of 7,200 tons of wooden and insulation materials used in furniture production and construction.

The two countries effectively interact in many economic spheres. Italian companies such multifaceted assistance as ENI, Valvitalia, Pietro Fiorentini S.p.a., ProBusiness S.r.l, ETD European Technology Development S.r.l, Geieeurasiamed, Comair S.p.A., Chimec S.p.A., Maschio Gaspardo, Marzoli, Helicopters Italia Srl Unipersonale currently operate in Turkmenistan.

Sixteen enterprises with Italian capital and 22 projects worth about $13 million of investments from Italy have been registered in Turkmenistan.

Turkmenistan and Italy established diplomatic relations on June 9, 1992.

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Follow the author on Twitter: @JeilaAliyeva

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